“Our outlook for second half is constructive on growth coupled with a need for monitoring external factors around geopolitical tensions, monetary policy direction and the impact to sentiment of the below normal monsoon,” he said in a statement.
“As the rate cycle turns, our focus is to sustain growth, improve asset quality further and build resilience in profitability through disciplined pricing, optimal asset mix and early intervention on collections. As always, we will take a long-term, through-cycle view in delivering the Sundaram experience to our customers, partners and employees,” Lochan said.
Sundaram Finance second quarter standalone net profit rose 21 per cent to Rs 475 crore, while disbursements grew 28 per cent to Rs 10.355 crore from last year. Net interest income rose 17 per cent to Rs 963 crore.
“Domestic economic momentum remained strong in Q2FY27 despite an increasingly challenging global environment. Renewed tensions in West Asia, crude oil price volatility and tighter global financial conditions increased inflationary and external-sector risks,” Harsha Viji, Executive Vice Chairman, Sundaram Finance, said.
Against this backdrop, Team Sundaram delivered 19 per cent Asset Under Management (AUM) growth to Rs. 65,992 crores, asset quality with net stage 3 assets at 0.91 per cent against 1.13 per cent last year, he said.
